- After a monthlong delay, Trump added new tariffs on Canada and Mexico on Tuesday.
- Trump added to existing China tariffs, too.
- Here are the goods imported into the US the most from these three countries.
When evaluating how President Donald Trump’s new tariffs on Mexico, Canada, and China could impact Americans, start by looking at the goods imported most from those countries.
The biggest categories are oil, electronics, and vehicles.
Trump reached a deal with the leaders of both Canada and Mexico to delay tariffs by a month in early February. But the delay was temporary, and the 25% tariffs went into effect on Tuesday through an executive order. There’s one big exception: Energy imports from Canada have a 10% tariff.
The president also doubled China tariffs, to 20%, as he continues to push for stronger drug policies, particularly to stop the flow of fentanyl into the US.
Details surrounding the implementation of the tariffs are still unclear, including when they could end. Trump’s initial order said the tariffs would continue “until the crisis is alleviated.”
The proposed tariffs could affect a wide variety of goods Americans use daily. The Census Bureau reported that in 2024, the US imported over $1.3 trillion in goods from China, Mexico, and Canada combined.
From Canada, the top 2024 imports included over $98 billion worth of crude oil and about $28 billion in passenger cars.
The US imported nearly $67 billion worth of car parts from Mexico in 2024, along with $43 billion in computers, $14 billion in medicinal equipment, and $12 billion in crude oil.
China, meanwhile, is a major supplier of electronics to the US. The census data showed that in 2024, the US imported $64 billion in cell phones and other household goods from China, $34 billion in computers, and about $31 billion in games, toys, and sporting goods.
Some companies have already been preparing to increase prices as a result of Trump’s tariff plans on the campaign trail. Real estate consultants previously told BI that Trump’s trade plans, particularly his 25% tariffs on steel, are set to make rent and condo prices more expensive.
Walmart’s chief financial officer, John David Rainey, told CNBC on November 19 that price hikes are likely on the horizon if Trump implements his tariffs: “We never want to raise prices. Our model is everyday low prices. But there probably will be cases where prices will go up for consumers.”
Additionally, Trump’s plans could amplify economic strains between the US and its trading partners. China said on Tuesday that it would impose additional tariffs of 10% to 15% on some US imports starting March 10.
Both Canada and Mexico threatened retaliatory tariffs in early February to push back against Trump’s tariffs. Trudeau said in a statement at the time that if Trump “wants to usher in a new golden age for the United States, the better path is to partner with Canada, not to punish us.”
Companies and economists have said that Trump’s tariff plans would increase consumer prices. BI previously reported that Trump’s broad tariff proposals were likely to increase prices across the board, from clothes and footwear to computers and video games.
Trump has previously denied that would be the case. “I am going to put tariffs on other countries coming into our country, and that has nothing to do with taxes to us. That is a tax on another country,” Trump said in an August speech. However, he told reporters in early February that Americans will experience “some pain” as a result of the tariffs, but he said they will overall be beneficial for the country.
The tariffs implemented during Trump’s first term did not significantly influence inflation, but his recently announced tariffs are broader and could have a larger impact on prices.
